Do you have a project in mind? Let's discuss!
Leave your contact details
We will be shortly to schedule a call
An algorithm-based auction platform for transparent real estate buying and selling in the US
plumBid’s founders are professional economists and residential real estate experts with a combined experience of more than ten thousand home sales. Their knowledge of the challenges and intricacies of real estate auctions in the US led them to the idea of a platform that would bring more transparency to the process.
plumBid’s founders needed a skilled team of programmers to bring their product concept to life. They reached out to Demigos as a perfect match for the skills they required for this real estate property development platform.
When reaching out to us, the client had the following key requirements:
Demigos’ dedicated team created a complex, comprehensive solution that brings more transparency, speed, and efficiency to real estate auctions. Based on a proprietary algorithm, the plumBid platform caters to the needs of all auction participants: sellers, buyers, and listing agents. The solution is powered by OCR technology, which made this real estate property portal development project more challenging but also more interesting for us.
The product vision of the plumBid platform was unique and complex from both technical and design perspectives. Here are the challenges we had to resolve when building this real estate property portal:
Real estate agents are traditionally resistant to technology adoption since many of them find it hard to learn how to use new systems.
Complicated bid calculation
The plumBid’s team had a patented formula developed by professor Galen Loram. According to this formula, complicated calculations have to be made to enable.
Changing industry regulations
The platform has to consider the rules of the multiple listing service (MLS) since it provides information about the property for sale.
Recognizing text in PDF documents
The accuracy of text recognition from PDF files had to be at least 60% to bring noticeable value to users and save their time on entering information from documents into the system.
Complicated auction setup
The auction setup is a rather time-consuming and complex process. The client wanted to simplify it for users as much as possible.
The client wanted to solve the issue of last-second bidders (so-called “sniping”) to avoid any speculations during the real estate auctions held via the platform.
Want to discuss your project?
The client had an ambitious goal: making real estate auctions — one of the most confusing business processes in the US — easier and more transparent. We responded by putting together a dedicated team for real estate property portal development with perfectly balanced roles and structure:
01 - Discovery and Analytics Stage
We analyzed the client’s request, requirements, and product vision and put together a dedicated team for this real estate property portal development project.
02 - Design and User Experience
Our UX/UI designer searched the best solutions accounting top trends and best user experience practices. Created wireframes and user interface showing the best look of the product and brand on screen flow of mobile and web apps. Worked hard to create an intuitive and attractive interface for each type of user.
03 - Research and development
Our dedicated developers used OCR technology to create a highly accurate PDF parsing engine. We also developed the frontend and backend of the plumBid platform.
04 - Release & deployment
We released the plumBid platform and deployed it to the AWS cloud infrastructure.
05 - Testing
We performed load and user acceptance testing to ensure that the platform performs impeccably even with a high user load. Our team also involved end-users to get feedback on platform usability in real-life scenarios.
06 - Launch
Our dedicated team supported the client during the product launch. We assisted with the client’s marketing efforts to ensure better platform adoption, as well as set up customer support funnels and system monitoring.
Assembled a dedicated team
We put together a dedicated team of 14 team members to build this real estate property portal that meets all client’s requirements.
Used the OCR technology
Our team applied the OCR technology to parse PDF files with different structures and recognize information from them with nearly 90% accuracy.
Enabled real-time updates
We implemented WebSocket technology to enable real-time updates of auction information without system reloading. This allowed for more users and saved the server power costs.
Built a robust infrastructure
Our engineers created a reliable, zero downtime infrastructure that scales automatically as the number of users grows.
Prevented auctions from sniping
We solved the issue of auction snipers by adding an advanced buffer algorithm to the system’s timer and refreshing it after each new bid
Created a trial environment
Our dedicated team created a trial auction environment where users can test the process and platform features absolutely risk-free.
The plumBid platform is a state-of-the-art solution that provides all real estate auction participants with the tools and information they need to reach a win-win deal. Buyers benefit from complete transparency so they can make a competitive offer, sellers can outline important terms and clearly communicate their preferences, and listing agents can get higher sales prices for their clients. Here’s what plumBid offers to each category of users:
Listing agents can:
We will be shortly to schedule a call